| Thursday morning also included a REBNY seminar on healthcare and student housing opportunities (and who said August is not busy in real estate?) Noyack Medical Partners founder CJ Follini tells us that healthcare-related real estate is practically recession-proof, with strong cash flow, a 90% renewal rate, and pricing premium, with the bonus of an increasing aging population. The only effect of the downturn is that product is not changing hands, he says. Healthcare will be a savior for vacant retail space, and NYC should see an explosion in offices like primary care physicians and diagnostic centers. |
| On the other side of the age equation, Campus Habitat CIO Oliver Swan tells us that student housing in NY is one of the last fragmented frontiers, with universities only housing 25% of their students. As enrollment figures increase, many of these school dorms are fully occupied. Supported by Fannie and Freddie, balance sheet lenders are also still involved in financing off-campus properties. He brought up the requisite Animal House mention, but notes that student damage per unit is less than your typical multifamily unit, making co-eds some of the best tenants around. |
Sign up for more articles like this
Subscribe to Bisnow's New York Newsletters
Related Stories
)
)
)
)
)
)
)
)
)
)
)
)